| Summary: | 碩士 === 國立屏東科技大學 === 熱帶農業暨國際合作系 === 103 === Small and medium enterprises (SMEs) are the most widespread organizational form in the business world. The major contributions to the development of the economy are stimulating economic growth, providing employment opportunities and building new businesses. In today’s rapid evolution of technologies, SMEs are always challenged to implement new strategies in order to expand their businesses. At the same time, SMEs often has limited access to institutional financing. For that reason, Credit Guarantee Scheme (CGS) is implemented in the market and became one of the most effective tools to help SMEs integrate in the credit markets. Many countries employ a CGS as a tool to solve the financing constraints faced by SMEs. However, very few international non-governmental organizations such as Mercy Corporations, United Nations Development Program (UNDP) and German Technological Cooperation (GTZ) have initiated loan guarantees for Mongolian SMEs addressing the release of constraints. Due to limited target groups, targeted regions, and funding sources, very few SMEs have a chance to use the guarantee services provided by them. Therefore, the main goal of this study is to determine the demand of CGS for SMEs in Mongolia. For that reason, exploring the demand of the CGS for SMEs is a crucial contribution to the Mongolian financial environment.
For this purpose, this study investigated a relationship between demographic variables of respondents, business characteristics as well as the financial status of SMEs and perceived existing financial situation, demand of CGS for SMEs and difficulties of loan application. In order to collect the primary data for this research, a SMEs survey based on convenience sampling method was conducted from July to September in the year 2014. A total of 330 fully completed questionnaires were collected from 396 respondents which representing 84% response rate. Responses to the statements were analyzed using Statistical Package for Social Sciences (SPSS, V.20) software. Descriptive and an inferential statistics including Factor Analysis, T-test and Analysis of Variance (ANOVA) were employed.
In overall, the existing financial services were negatively perceived which means that current financial situation is not enough performance in Mongolia and new external credit guarantee services were still needed for SMEs. Results proved that there was a demand of CGS for SMEs in Mongolia because respondents had greater positive perceptions on demand related statements. In terms of difficulties of loan application, respondents agreed that there were many problems for applying loan from commercial banks. Therefore, this study determined that existing financial service is not good performer, especially well managed credit guarantee services are greatly demanded for SMEs in Mongolia.
In conclusion, this study empirically examined whether there is a demand of credit guarantee schemes for SMEs in order to increase the availability of access the financial needs and apply for loans to small businesses and contributed to improving firm performance. Our empirical findings confirm that there is a demand to establishing CGSs for SMEs for improving their access to credit.
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